Elizabeth Warren calls for emergency-like Fed rate cut ASAP | CNN Business

New York CNN  — 

The American economy appears to be just hours away from a major milestone: The first interest rate cut from the Federal Reserve since Covid. Yet there remains an unusual amount of drama over the magnitude of that rate cut, with some in Washington calling for a supersized move.

Massachusetts Democratic Sen. Elizabeth Warren wants the Fed to slash interest rates at a pace rarely seen outside of a full-blown crisis.

In a letter to Fed Chair Jerome Powell on Monday, Warren and two Senate colleagues urged the US central bank to

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